Get the Foundation You Need to Handle Title Issues
Ensuring marketable title has never been more important than in today's real estate market. Make sure you're prepared for any complications with a solid foundation of title law knowledge. At this workshop, you'll walk through the title examination process with example documentation - from the mechanics of the title search to curing defects to drafting the title commitment. Don't miss this opportunity to build your skills. Register today!
- Identify defects, assess problems quickly and avoid creating unnecessary disputes by gaining a complete understanding of title examination techniques.
- Learn best practices for dealing with mechanics' liens, tax liens and other encumbrances.
- Confidently review plats and surveys, knowing what red flags to watch for.
- Avoid the potential pitfalls of incorrect legal descriptions of property.
- Understand what crucial items should be included on Schedule B-1 and B-2 of the title commitment.
- Make sure you're using endorsements to their full potential: understand how to interpret their coverage.
- Take the appropriate action to clear title quickly so foreclosed properties can go to sale on schedule.
- Conducting the Title Search and Examination
9:00 - 10:00, Frank Green
- The Mechanics of Running the Chain of Title: Public Record Search, Title Plants, Etc.
- Title Examination
- Recognizing Defects Through Document Review
- What to Look for in Court Decrees
- Foreclosure Under Deed of Trust
- Property Tax Liens
- Local and State Government Liens
- Federal Tax Liens and Federal Judgments
- Private Party Liens
- Issues on Authority
- What to Look for in Surveys, Descriptions and Plats
10:00 - 10:40, Michael J. Pallamary
- Types of Surveys: Differences Between ALTA/ACSM Land Title Surveys, Boundary Surveys and Building Location Surveys
- Understanding Survey Elements and Symbols
- Boundary Conflicts
- Physical Encumbrances/Encroachments
- Prescriptive Easements and Adverse Possession Evidence
- Building Setbacks/Restrictions
- Reading Legal Descriptions of Property – Potential Pitfalls
- Remedies to Resolve Property Line Problems
10:55 - 11:45, E. Ludlow Keeney Jr.
- Boundary Line Agreement
- The Grant of an Easement
- Declaratory Judgment
- Quiet Title
- Adverse Possession and Prescription
- Quitclaim Deed
- Drafting and Issuing a Title Commitment
12:45 - 2:00, Frank Green
- Schedule A
- Schedule B-1: Requirements of the Title Insurer
- Schedule B-2: Exceptions to Coverage
- Opinion Letters
- Negotiating the Title Insurance Commitment
- Standard ALTA and CLTA Endorsement
2:00 - 2:30, Frank Green
- Commercial ALTA and CLTA Endorsements
- ALTA 13.06 and 13.1.06
- ALTA 14.06, 14.1.06, 16.06, 20.06
- ALTA 15.06, 15.1.06, 15.2.06 and 21.06
- ALTA 17.06 and 17.1.06, 18.06 and 18.1.06, 19.06 and 19.1.06
- Manuscripted Endorsements
- Standard Exceptions
- Special Exceptions
- Affirmative Coverage
- Curing Title Defects During Foreclosure
2:45 - 3:30, E. Ludlow Keeney Jr.
- Indemnifying Prior Open Liens
- Open Equity Lines of Credit
- Correcting Scriveners' Errors
- Unreleased Mortgages or Mortgages Recorded Out of Order
- Unrecorded or Improperly Executed Encumbrance
- Break in the Chain of Title – Quiet Title Litigation Procedures
- Effect of Bankruptcy on Validity of Foreclosure
- Ethical Considerations
3:30 - 4:30, Timothy E. Fields
- Rights of Redemption
- Formation of the Attorney-Client Relationship
- Conflicts of Interest
- Duties of Competence and Diligence
- Disclosure of Defects in Property
- Special Responsibilities to Sellers and Borrowers
- Attorneys' Fees